As companies divert the costs of health insurance to their employees, health savings accounts (HSAs) and health reimbursement accounts (HRAs) have become increasingly popular. According to the Employment Benefit Research Institute (EBRI), adults in the U.S. retained $23.8 billion among 11.8 million HSAs and HRAs. This represents an increase of 2,725 percent from 2006.<\/p>\n
HSAs can also be used as a stealth individual retirement account, but the majority of people are unsure of how to inquire about them. While flexible spending accounts (FSAs) allow users to put away a maximum of $2,500 in pretax dollars every year for medical bills, HSAs do the same but with a higher maximum amount. In 2014, HSAs permitted individuals to set aside a maximum of $3,300, and families a maximum of $6,550, as well as a $1,000 catch-up contribution for people ages 55 and older.<\/p>\n
Any remaining funds in the HSA will be rolled over each year (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" As companies divert the costs of health insurance to their employees, health savings accounts (HSAs) and health reimbursement accounts (HRAs) have become increasingly popular. According to the Employment Benefit Research Institute (EBRI), adults in the U.S. retained $23.8 billion among…<\/span><\/p>\n